MTECHTIPS:-India Crude Oil subdued, Rupee sheds weight Crude Oil climbed on the NYMEX following a drop of 2.

4% on Monday as the dip was considered an over-reaction by markets. India crude oil is also exhibiting a subdued trend. Meanwhile, Indian currency dropped snapping two sessions of gain at 54.21/22.The market has said the aggressive fall was ridiculous, said Jonathan Barratt, chief executive officer of Barratts Bulletin, a commodity newsletter in Sydney on NYMEX crude losing value and then climbing. Were all thinking that perhaps it was a fat finger by someone, and down it tumbles. The realistic level should be a little bit higher.--Bloomberg reported.The futures climbed 0.6 percent as when the realisation dawned on the markets. October Crude climbed up to to $97.17 a barrel in electronic trading on NYMEX and was spotted trading at 1:17 p.m. Sydney time.On Monday the futures dipped $2.38 to $96.62; lowest since Sept. 10. November Brent jumped 38 cents to $114.17 a barrel on the London-based ICE Futures, Europe.On India's MCX, crude oil for September touched 5261, a loss of 0.25% in the initial minutes of the trade. MTECHTIPS:-Castor Seed sustains bullish trend on trend reversal pattern Castor seed futures continue to sustain a bullish trend subsequent to yesterday's climb. Caster seed for September delivery recorded an up-tick of 0.38% at Rs.3710 per 100 kg on NCDEX at 11.04 am.First resistance is seen at 4020. I am expecting that level in coming days, and the break out of that level may take the price to 4220 in medium term, said Melbin Noble Agri analyst with Commodity Online.Castor seed recorded a sudden movement after 12.45 PM IST on India's NCDEX on Monday and was eventually seen hitting the upper circuit one contract after the other spanning 3696 and 3984.It is a trend reversal pattern, which will be giving bullish outlook for the commodity. It is one of the patterns made in technical charts. said Melbin Noble yesterday MTECHTIPS:-Silver: Sell on rise near to 64000; target 63500, stop loss 64300 Bullion commodities are looking bearish for today's trading session ahead of profit booking in both commodities; gold and silver, said Amrita Mashar, Manager-Research, Commodity Online. Sell on rise for silver suggested for today near 64000 keeping stop loss at 64300 for target near 63500, she added.Rupee depreciation restricted downside move in morning hour. Instant support for Gold contract may be seen at 31650 and resistance seems to be 31950. she said.Silver December contract is expected to remain under pressure ahead of selling pressure in international market. Silver to take support at 63200 and resistance at 64300. she added.Gold on

the MCX was down 0.27% at Rs.31725 on 11.43 am IST. Silver was down by 0.33% at Rs.63552. MTECHTIPS:-'Intraday MCX Copper to be under selling pressure' Copper prices are expected to remain under selling pressure. A sell on rise strategy is advised by I recommend a sell on rise strategy at 453-454 with stop loss of 456 for target near 448. she said. Copper trend seems to bearish for now she added.For the morning all base metals opened positive following rupee depreciation against USD. After one hour, sudden sell off in USD/INR put pressure on MCX commodities. Copper was trading at an intraday high of 454 near to which it slipped by almost Rs.5 to 448.90.Meanwhile, India's Power Grid Corporation may invest close to $18 billion to upgrade networks and avoid recurring of the great black out that occurred recently. The news may be received with cheers by the copper industry even as further details are yet to emerge.Reports Bloomberg: revenue of the state-owned company may climb 400% once the project gets completed. The company thereby wishes to increase its market share to 70% from the current 50%. MTECHTIPS;-NCDEX Soybean dips on global cues; US soy bearish Soy bean for October contract has recorded a dip of 3.24% at Rs.3574 per 100 kg on NCDEX at 2.30 pm on Tuesday.It is the sustaining of downward movement started Friday last week and the trend is still bearish.Next major support at downside is 3350 Melbin added.November soy bean contracts on the Chicago Board of Trade slid 4% to $16.69 a bushel, almost a months low on Monday.Early crop yield reports from even very dry areas are coming in strong especially in Iowa, Minnesota, Illinois and Indiana. So there is a higher scope there to witness fall in the prices of soy bean futures in United States.Also, other crop prices also fell. December wheat lost 46.25 cents to settle at $8.78 a bushel. December corn fell 34 cents to $7.48 per bushel on the New York Mercantile Exchange.